Tesla Is Once Again the Most Shorted American Stock


(Bloomberg) -- Tesla Inc. bears won't let anyone steal the title for the most-shorted stock. Not even Apple Inc.

A parabolic spike in shares of the electric carmaker hasn't stopped short sellers from betting the stock will go down. They drove the total dollar amount of shares borrowed to sell the stock short to $14.5 billion on Wednesday, data by financial analytics firm S3 Partners showed. That's above the $14.3 billion invested in a bet Apple will go down.

The iPhone maker overtook Tesla as the most-shorted U.S. stock on Sept. 20 and had held that position until Wednesday. The dollar amount of short interest in Apple, however, is of little surprise given the size of the tech giant's $1.4 trillion market capitalization.

Tesla, whose market cap is 14 times smaller than Apple's, has long been a site of a tug-of-war between its bulls and bears, which often came at a price. This year through Tuesday, Tesla short-sellers have racked up $2.8 billion in net-of-financing mark-to-market losses, S3 Partners' data show. This compares with losses of $2.89 billion for all of 2019.

Tesla has been on a roll since late October amid a host of positive news around its deliveries and China plant. Apple has gained 19% since early December and at least 10 analysts have upped their price targets on the stock this year amid optimism over the company's growth.

--With assistance from Esha Dey.

To contact the reporter on this story: Elena Popina in New York at epopina@bloomberg.net

To contact the editors responsible for this story: Brad Olesen at bolesen3@bloomberg.net, Jennifer Bissell-Linsk

For more articles like this, please visit us at bloomberg.com

Subscribe now to stay ahead with the most trusted business news source.

©2020 Bloomberg L.P.


More Related News

China Stocks Rebound From Sell-off That Erased $720 Billion
China Stocks Rebound From Sell-off That Erased $720 Billion

(Bloomberg) -- China's stock benchmark recouped all its losses from a record $720 billion sell-off earlier this month, a sign that investor confidence is improving after policy makers acted to ease the economic fallout from the coronavirus outbreak.The CSI 300 Index added as much as 1.2% Monday, surpassing its 4,003.9-point close from Jan. 23, the last trading day before a Lunar New Year break that saw a surge in virus infections. The index plunged 7.9% on Feb. 3 as Chinese markets reopened to a health crisis that paralyzed most of the world's second-largest economy. The measure remains well below its high close for the year of 4,203.99 on Jan. 13.To cushion the blow, China's government...

Trump Revs Up Friendly Crowd at Daytona International Speedway
Trump Revs Up Friendly Crowd at Daytona International Speedway

(Bloomberg) -- President Donald Trump took his campaign to the Daytona 500, seizing center stage at the popular stock-car race and courting loyal supporters in a state he needs to win. Trump visited the Daytona International Speedway for the "Great American Race" on Sunday. He delivered remarks at a

Michael Bloomberg
Michael Bloomberg's employees created a book purportedly full of his offensive quotes. Here it is.

A book of risqué and off-color sexist remarks purportedly by Michael Bloomberg haunts his presidential campaign. Insider is publishing a copy of it.

Former employee says he heard Bloomberg ask a female co-worker if she was going to
Former employee says he heard Bloomberg ask a female co-worker if she was going to 'kill it' after announcing her pregnancy

"Mike came out and I remember he said, 'Are you going to kill it?' And that stopped everything. And I couldn't believe it," the former employee said.

Amazon Ends Ties to Delivery Partner, Erasing Hundreds of Jobs
Amazon Ends Ties to Delivery Partner, Erasing Hundreds of Jobs

(Bloomberg) -- An Illinois company that rapidly expanded over the past two years to deliver packages for Amazon.com Inc. is shuttering operations in five states and letting go hundreds of drivers after failing to meet the e-commerce giant's standards.The shuttering of Bear Down Logistics underscores the challenges Amazon faces outsourcing deliveries to new, untested companies instead of traditional partners such as United Parcel Service Inc. and FedEx Corp. It also serves as a warning to Amazon delivery partners that the company is an exacting client willing to cut them off.Bear Down Logistics notified Ohio, Virginia, Minnesota and Illinois that it would close facilities in those states...

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply


Top News: Economy